BJFEZ Unveils '2040 Vision'... Plans for Integrated Economic Zone Linking Jinhae New Port and Gadeokdo New Airport

Busanjin-Hae Economic Free Zone Authority Holds Second Roundtable
Innovation in Spatial Development and Residential Environment
Aiming to Become a Complex Zone Integrating Industry and Daily Life

On October 23, the Busanjin-Hae Economic Free Zone Authority (headed by Park Sungho) held the "Second Roundtable for the BJFEZ 2040 Development Plan" in the main conference room, where participants discussed development strategies and actionable tasks for both development planning and residential environment sectors.

Busanjin-Hae Economic Free Zone Authority is holding the second roundtable for the BJFEZ 2040 Development Plan. Photo by BJFEZ

This meeting was organized to explore balanced growth strategies through spatial development and lifestyle infrastructure innovation, following the first meeting on October 16, which covered industrial development and investment attraction.

The report presented at the meeting outlined plans for integrated logistics and advanced industry development linking Jinhae New Port and Gadeokdo New Airport, as well as directions for improving the residential environment so that workers and residents can coexist harmoniously.

More than 20 representatives and experts from relevant organizations, including Busan Port Authority, Korea Land and Housing Corporation, Busan Urban Corporation, Gadeokdo New Airport Construction Corporation, and Busan-Gyeongnam Technopark, attended the subsequent roundtable to engage in in-depth discussions on key issues.

Participants proposed specific actionable tasks focused on: ▲ integrated development and logistics-industry linkage strategies for the hinterland of Jinhae New Port ▲ a "Tri-Port" integrated development model connecting the airport, port, and industrial complexes ▲ plans to expand residential infrastructure for foreign workers and corporate employees.

Among the major topics discussed, six key tasks were identified.

First, there is a plan to secure land and promote integrated development by linking Jinhae New Port and Gadeokdo New Airport, establishing BJFEZ as a hub for logistics and advanced industries. In addition, the authority aims to incorporate existing aging industrial complexes into the economic free zone and reorganize them into smart industrial complexes, thereby enhancing the efficiency of industrial spaces and promoting balanced regional development.

Furthermore, the authority is considering additional designation of economic free zones in shipping service clusters such as Saha-gu and Yeongdo-gu in Busan, securing differentiated competitiveness by connecting with research and development zones and opportunity development zones, utilizing infrastructure in nearby residential areas such as Myeongji, Eco Delta City, and Yulha, and creating shared dormitories and community spaces for foreign workers.

Experts commented, "If these discussions are realized, BJFEZ will evolve into a complex economic zone integrating industry and daily life," adding, "The opening of Jinhae New Port and Gadeokdo New Airport will serve as a decisive turning point for Busan and Gyeongnam to become logistics hubs in Northeast Asia."

Park Sungho, head of the authority, stated, "This discussion marks an important turning point in redesigning the spatial structure and living infrastructure of BJFEZ for the next 20 years," and added, "We will complete a balanced development strategy that not only enhances corporate competitiveness but also improves the quality of life for local residents."

The authority plans to compile the outcomes of this discussion, along with opinions gathered from the first and second roundtables, and reflect them in the "BJFEZ 2040 Development Plan Final Report Forum" scheduled for December.

This content was produced with the assistance of AI translation services.